Kingsmead Design Limited - Period Ending 2015-06-30

Registration number: 06862927

Kingsmead Design Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Atkinson Saul Fairholm Limited
21A Newland
Lincoln
LN1 1XP

Kingsmead Design Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Kingsmead Design Limited
(Registration number: 06862927)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			4,392			3,527
Current assets
Debtors					6,609			3,291
Cash at bank and in hand					3,546			1,158
					10,155			4,449
Creditors: Amounts falling due within one year					(10,286)			(5,673)
Net current liabilities					(131)			(1,224)
Total assets less current liabilities					4,261			2,303
Provisions for liabilities					(878)			(705)
Net assets					3,383			1,598
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					3,283			1,498
Shareholders' funds					3,383			1,598

For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 January 2016 and signed on its behalf by:

.........................................
I Butler
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Kingsmead Design Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	20% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Kingsmead Design Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		9,769			9,769
Additions		1,963			1,963
At 30 June 2015		11,732			11,732
Depreciation
At 1 July 2014		6,242			6,242
Charge for the year		1,098			1,098
At 30 June 2015		7,340			7,340
Net book value
At 30 June 2015		4,392			4,392
At 30 June 2014		3,527			3,527

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3